Trigea acquires its first real estate in Prague
Trigea Real Estate Fund has acquired the attractive Louvre office building in Prague 5 to add to its portfolio. It was built in 2008 and it offers approximately 4,600 sqm of modern rentable areas. The Louvre represents an exceptional space, especially thanks to its excellent transport connection to the Radlická metro station and timeless design. The main tenants include companies, such as the Swiss rail vehicle manufacturer Stadler, Lukoil Accounting and Finance Europe and the VZP Health Insurance Company. The transaction price has not been disclosed.
Trigea Real Estate Fund was established on 1 April of this year and is mainly focused on office buildings and retail centres. “I am very pleased that we have acquired the Louvre office building as the first real estate in our portfolio, because it corresponds with our investment strategy in every respect. By the end of the year, we would like to add another piece of real estate to the Louvre,” says Tomáš Trčka, Managing Director of Trigea Real Estate Fund. The Fund is exclusively distributed by Partners financial group and it allows the general public to participate in revenues of commercial real estate. Amounts from 500 Czech crowns may be invested into the Fund. The expected yield should be 4-6 percent p.a. in the long term. Within three years, the Fund plans to collect 5 billion Czech crowns.
“Just as the last year, we expect Czech capital to play a key role in acquisitions of commercial real estate this year. Trigea Real Estate Fund represents another investment player on the Czech market. The number of similar Czech investors was increased in recent years, but the offer of investment real estate is limited, so to “catch” a property like the Louvre is more and more demanding for investors,” says Vítězslav Doležal, Associate Director Investment Department at CBRE.